(1) This regulation applies in respect of a licence where OFCOM receive notice from that licensee of their intention to make payment in twelve monthly instalments of the total sum prescribed by regulation 3 or 4 (as the case may be).
(2) Where this regulation applies in respect of a licensee, the licensee—
(a) shall not be required to make payment of the total sum prescribed by regulation 3 or 4 at the prescribed time other than in accordance with this paragraph; and instead
(b) shall make payment of the sum in twelve instalments with the first instalment to be paid to OFCOM on the same day as the total sum was due to be paid and each subsequent instalment to be paid on the same day in each of the following eleven months, or in a month in which there is no such day, the last day of the month.
(3) The first eleven instalments will equate to one-twelfth of the total sum prescribed in regulation 3 or 4 rounded down to the nearest pound, with the twelfth instalment being the remainder of the total sum prescribed.
(4) Where at any time the licensee fails to make payment in accordance with paragraph (2)(b), all of the outstanding instalment payments, if any, including any payments that the licensee has failed to make, shall become immediately due for payment.